5 November 2020 You may have seen the news this week about 25-year-old Brisbane ecologist Mark McVeigh, who won a historic legal battle against his $57 billion super fund, Rest, over climate change. What you may not know is that Mark used Market Forces’ research and...
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NAB mealy-mouthed on 2030 thermal coal exit
Thursday 5 November 2020: NAB’s full year results presentation released today reveals the bank is “expected” to exit thermal coal mining by 2030, five years earlier than its inadequate official commitment to exit by 2035. NAB’s announcement last year that it...
Westpac increases exposure to fossil fuel power generation
2 November 2020 Westpac’s full year results released today reveal the bank has reduced its exposure to fossil fuel mining and extraction while increasing it to coal and gas-burning power generation over the past year. Westpac’s 2020 Sustainability Performance Report...
South32’s new climate plan won’t include scope 3 targets
29 October 2020 Diversified mining company South32 told shareholders today it would have "something to say" about its huge scope 3 greenhouse gas emissions (those generated from the use of its products) when the company updates its climate policy next year. However,...
ANZ commits to exit thermal coal, but rewards climate-destructive companies
29 October 2020 ANZ’s updated fossil fuel policy, released today, signalled an end to the bank’s involvement in thermal coal, but rewards the most climate-destructive companies and fails to move the needle on oil and gas. In its latest policy update, the bank has said...
Adani loses another insurer as Lloyd’s market feels the pressure
29 October 2020UPDATE: Lancashire and Ascot have both ruled insurance for the Adani Carmichael projectAnother Lloyd’s insurer that is providing cover for the Adani Carmichael project has committed to not renewing or taking on any new policies with the destructive coal...
ANZ to exit thermal coal by 2030. Though funding continues for fossil fuel expansion.
29 October 2020 Today ANZ released new and updated coal policies as part of its full year results, promising to exit thermal coal by 2030 and immediately stop funding new thermal coal mines and coal-fired power stations. This means no major Australian bank or insurer...
Bendigo Bank back-pedals on climate scenario analysis
27 October 2020 Bendigo and Adelaide Bank enjoys a lot of kudos for being one of Australia's medium-sized banks that doesn't invest in fossil fuels. Thousands of Australians have moved to Bendigo Bank as a result of its position on our banks comparison table. Yet at...
Boral too slow to address climate risk
27 October 2020 Climate change risk was once again on the agenda at Boral's annual general meeting today, as it has been since 2017. Despite the clear expectations set by shareholders over these past years, Boral progress on addressing both the physical and...
Worley stops short of 1.5°C assessment
26 October 2020 At its annual general meeting last Friday, Worley was a pains to stress the company's support for a low-carbon energy transition. This is consistent with recent developments at the company, which has historically provided integral engineering services...